EUR/GBP pushes above key 200-HMA after falling wedge breakout. 100-HMA, however, challenges the bulls’ commitment. Further upside remains on cards amid bullish RSI. EUR/GBP is extending gains on the 0.9000 level, benefiting from bigger losses in the pound when compared to its European peers. Broad-based US dollar strength, in the wake of rising Treasury yields and stimulus hopes, weighs heavily on most of the major G10 currencies on Monday. From the near-term technical perspective, EUR/GBP has broken through the falling wedge pattern, confirming an upside break. The bulls extended control thereafter, as the price pierced above the critical resistance at 0.9028, where the 200- hourly moving average (HMA) and 50-HMA coincide. However, the 100-HMA resistance at 0.9035 seems to be capping the immediate upside. Acceptance above the latter could open towards 0.9050 and beyond. To the downside, the pattern resistance now support at 0.9020 could restrict any pullback, below which the 21-HMA 0.9013 could be tested. EUR/GBP: Hourly chart EUR/GBP: Additional levels FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next USD/JPY recovers but the trend remains lower FX Street 11 months EUR/GBP pushes above key 200-HMA after falling wedge breakout. 100-HMA, however, challenges the bulls’ commitment. Further upside remains on cards amid bullish RSI. EUR/GBP is extending gains on the 0.9000 level, benefiting from bigger losses in the pound when compared to its European peers. Broad-based US dollar strength, in the wake of rising Treasury yields and stimulus hopes, weighs heavily on most of the major G10 currencies on Monday. From the near-term technical perspective, EUR/GBP has broken through the falling wedge pattern, confirming an upside break. The bulls extended control thereafter, as the price pierced above the critical resistance at 0.9028,… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
